Sign in

Please complete all fields in the form to login.
Username and password fields are case sensitive

If you have forgotten your username or password please use
the forgotten your username/password link below.

Remember me, by ticking the box you
are confirming you are happy for your details to be remembered
and used the next time you use this computer to visit
eFinancialNews.com. By doing this, you'll be able to access
restricted content without logging in each time you
visit the site.

Atlante fund to sub-underwrite Veneto Banca float

Troubled Italian lender Veneto Banca priced its €1bn float at €0.10 to €0.50 a share, a range that corresponds to a tiny fraction of the €30.50 share price the bank’s board set last year.

Given the insufficient demand by investors during the pre-marketing of the initial public offering, the Atlante fund - an Italian government-orchestrated backstop vehicle for banks - has agreed to sub-underwrite the listing at the lower end of the indicative price range, provided it ends up with a stake of at least 50.1%.